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Kingsoft Cloud Kingsoft Cloud Announces Unaudited First Quarter 2021 Financial Results May 18 , 2021 BEIJING , May 18 , 2021 ( GLOBE NEWSWIRE ) -- Kingsoft Cloud Holdings Limited ( " Kingsoft Cloud " or the " Company " ) ( NASDAQ : KC ) , a leading independent cloud service provider in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial Highlights • Total revenues were RMB1,813.5 million ( US $ 1276.8 million ) in the first quarter of 2021 , compared with RMB1,391.0 million in the first quarter of 2020. Having been increasing for five consecutive quarters , revenues from public cloud services were RMB1,391.8 million ( US $ 212.4 million ) , compared with RMB1,208.5 million in the same period of 2020 . Revenues from enterprise cloud services were RMB420.0 million ( US $ 64.1 million ) , representing an increase of 131.3 % from RMB181.6 million in the same period of 2020 . • Gross profit increased by 64.5 % to RMB116.5 million ( US $ 17.8 million ) from RMB70.8 million in the same period of 2020 . Gross margin was 6.4 % , increased from 5.1 % in the same period of 2020 . • Non - GAAP gross profit² , increased by 64.4 % to RMB122.0 million ( US $ 18.6 million ) from RMB74.2 million in the same period of 2020. Non - GAAP gross margin was 6.7 % , increased from 5.3 % non - GAAP gross margin in the same period of 2020 . Mr. Yulin Wang , Chief Executive Officer of Kingsoft Cloud , commented , “ In this quarter , we generated RMB1.81 billion in total revenues , among which public cloud and enterprise cloud accounted for RMB1.39 billion and RMB420.0 million , respectively . In addition to successfully executing our strategy of serving premium customers , we continued to improve our large - scale , highly stable and high - performance enterprise - level products and solutions that cater to growing demand across verticals including the internet , healthcare , financial services and public services sectors . In April , we published both our first annual report and our first Environmental , Social and Governance ( ESG ) Report post our IPO . Even though it is not a mandatory disclosure requirement in the US , we took the initiatives to disclose our ESG progress in less than a year after we went public . This speaks to our commitment to integrate ESG practices into our day - to - day business operations , and to constantly improve the management of our business . " 1 This announcement contains translations of certain Renminbi ( RMB ) amounts into U.S. dollars ( US $ ) at a specified rate solely for the convenience of the reader . Unless otherwise noted , the translation of RMB into US $ has been made at RMB6.5518 to US $ 1.00 , the noon buying rate in effect on March 31 , 2021 as certified for customs purposes by the Federal Reserve Bank of New York . 2 Non - GAAP gross profit is defined as gross profit excluding share - based compensation allocated in the cost of revenues and we define Non - GAAP gross margin as Non - GAAP gross profit as a percentage of revenues . See " Reconciliation of GAAP and Non - GAAP results " set forth at the end of this press release . Mr. Henry He , Chief Financial Officer of Kingsoft Cloud added that , " We are pleased to see that our products and solutions continued to gain tractions among our customers . Our total revenues were RMB1.81 billion this quarter . Among that , revenues from public cloud services were RMB1.39 billion . Due to our high quality services and robust relations with our premium customers , revenues from public cloud services have been increasing for five consecutive quarters . Our enterprise cloud services revenues were RMB420.0 million , representing an increase of 131.3 % year - over - year . We achieved record high quarterly adjusted gross profit of RMB122.0 million in first quarter . Our adjusted gross margin for this quarter increased from 4.9 % last quarter to 6.7 % this quarter . For the second quarter of 2021 , we expect our total revenues to be between RMB2.13 billion and RMB2.23 billion , representing an accelerated year - over - year growth of 39 % to 45 % . " First quarter 2021 Financial Results Total Revenues reached RMB1,813.5 million ( US $ 276.8 million ) , compared with RMB1,391.0 million in the same period of 2020. The increases were primarily due to the growth in both public cloud services and enterprise cloud services for our premium customers . • Revenues from public cloud services were RMB1,391.8 million ( US $ 212.4 million ) , compared with RMB1,208.5 million in the same period of 2020. Revenues from public cloud services have been increasing for five consecutive quarters . • Revenues from enterprise cloud services were RMB420.0 million ( US $ 64.1 million ) , representing an increase of 131.3 % from RMB181.6 million in the same period of 2020 . • Other revenues were RMB1.7 million ( US $ 0.3 million ) . Cost of revenues was RMB1,697.0 million ( US $ 259.0 million ) , representing an increase of 28.5 % from RMB1,320.2 million in the same period of 2020 , primarily attributable to increase in IDC costs and other costs . IDC costs increased by 21.0 % to RMB1,113.2 million ( US $ 169.9 million ) from RMB920.2 million in the same period of 2020. The increase in IDC costs was in line with the Company's expanding business and was partially offset by improved efficiency and utilization of bandwidth . Depreciation and amortization costs was RMB174.8 million ( US $ 26.7 million ) , compared with RMB204.8 million in the same period of 2020 .